A new study shows that developers believe the metaverse may one day become the "most popular" way to buy and sell cryptocurrencies.
The study, commissioned by API provider Agora, surveyed 300 developers' thoughts and ideas about the metaverse. โSince they will be positioned at the forefront of virtually every development taking place in the metaverse, their thoughts and opinions will ultimately carry great weight,โ says Tony Zhao, founder and CEO of Agora.
The survey shows that 57% of developers believe that the metaverse will one day be the most prominent way to trade crypto. However, 1 in 3 respondents believe that privacy and data security can be a big challenge for the metaverse.
Meanwhile, the pollsters also asked the developers if the role of non-fungible tokens will continue to grow and become the largest form of currency in the metaverse. 53% of respondents agreed, while 24% disagreed.
The researchers also found that most developers believe that innovation in crypto and blockchain will be "critical in shaping the future of the metaverse." 70% of respondents agreed that advancements within the blockchain and cryptosphere would significantly affect the metaverse.
72% of survey participants believe real-time engagement will be crucial to creating a "connected experience" within the metaverse. Furthermore, the results also showed that 55% of the participants believe that the metaverse will replace real-life social interactions in the near future.
Related: Google Trends data reveals that nobody cares about the metaverse or NFTs in 2022
In March 2022, companies began to settle in the metaverse. Companies have launched or announced plans to take their businesses into the virtual world. Companies aim to use the metaverse for business meetings, as an innovation hub, and as a user engagement platform.
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